Your commercial news round-up: heatwave, UK youth crisis, Brexit food export rules, Ferrari

Dimitar Dimitrov is a content and engagement coordinator at LawCareers.Net

Reading time: four minutes

Record-breaking heat is reshaping UK shopping habits and warnings of a potential “lost generation” are intensifying as more young people fall out of education and work. Meanwhile, the UK government has struck a new deal with the EU to ease post-Brexit food export rules and Ferrari has hit a bump in the road, with its shares falling after unveiling its first fully electric model. Read on for LawCareers.Net’s picks of this week’s top commercial stories.

• Sales of cooling products have risen sharply during May’s record UK heatwave, with retailers reporting surging demand for items such as fans, ice cubes and sunscreen. Fans are “selling at a rate of three units per minute”, according to electrical group Dimplex CEO Ciaran Murphy, while Tesco said ice cube sales tripled week-on-week and sunscreen sales increased almost sixfold. The spike in demand follows record-breaking temperatures, with a provisional meteorological spring high of 34.8°C recorded at Kew Gardens on Monday, rising to 35°C on Tuesday. Retail data has highlighted how UK consumers are responding to heat in homes that were designed to retain warmth. Around 4 million UK homes are said to have air conditioning now, which is double the number three years ago, as residents report “unliveable” conditions. Experts have attributed rising demand to higher temperatures and increased home working. Murphy said: “Consumers are becoming increasingly proactive about preparing their homes for hotter temperatures, and we’re seeing more people invest in practical cooling solutions earlier in the season.”
   
• One in six young people could be out of education, employment or training within five years without urgent action, according to a review by former minister Alan Milburn, which warns the UK risks a “lost generation”. Milburn said the education, health and welfare systems are “no longer fit for purpose” in preparing young people for adult life, with opportunities limited and entry-level roles increasingly out of reach. Milburn highlighted that many young people are submitting dozens or even hundreds of job applications without response. More than one million 16 to 24-year-olds are currently classified as not in education, employment or training (Neet), the highest level in more than 12 years. The latest figures from the Office for National Statistics (ONS), according to BBC News, revealed that 1,012,000 young people were Neet between January and March 2026, accounting for 13.5% of the young population in the UK. The ONS also highlighted an increase in the number of people classed as "economically inactive" – those not looking or available to work – to about 613,000.
   
• Brexit-era rules affecting UK food exports to the EU will be scrapped from mid‑2027 under a new UK‑EU sanitary and phytosanitary agreement, the government has announced, marking the first confirmed outcome of UK Prime Minister Keir Starmer’s “reset” negotiations with Brussels. Under the changes, exporters of meat will no longer need veterinary certificates to prove compliance with EU standards, while similar documentation for plants and wood packaging will also be removed. In addition, businesses trading with Northern Ireland will no longer require health labels. Biosecurity minister Sue Hayman said that the deal would reduce “unnecessary delays and paperwork at the border”, potentially benefiting up to 16,000 businesses that stopped exporting to the EU after Brexit. The government expects the changes to add £5.1 billion annually to the economy.
   
• Ferrari’s shares have fallen after the luxury carmaker unveiled its first fully electric model, the $640,000 (£474,320) Luce. The stock dropped more than 8% in Milan and over 5% in New York, with reactions to the launch ranging from strong criticism to praise on social media. The Luce marks a significant departure for Ferrari as its first five-seater and first fully electric vehicle, developed with the LoveFrom agency founded by Sir Jony Ive. Ferrari had previously focused on hybrid models before committing to a fully electric vehicle (EV). The launch comes as demand for luxury EVs remains uncertain. Rivals, including Lamborghini and Porsche, have scaled back electric plans, citing weak demand and competition, particularly from Chinese manufacturers. Meanwhile, carmakers Ford and Volkswagen have instead prioritised petrol vehicles, particularly in the US, amid weak demand for electric cars and regulatory changes under US President Donald Trump, including reduced incentives for EV buyers.

Check the News every Thursday for this weekly commercial news round-up. Prefer to listen to your commercial news? Why not check out our Commercial Connect podcast?

Follow LawCareers.Net on LinkedIn and Instagram for regular business news updates.